“This was [a foreclosed property] sale only because the asset was originally delivered in a difficult time to attract retail and office tenants, but the quality of the asset never came into question,” Rattler said in a statement. “Now that the market is turning around, the upside potential of this asset is strong and is what attracted interest from both local and out-of-state private investors looking for moderately risked value-add opportunities.”

The new owner is part of the Tabani Group, which has made more than 40 commercial property transactions valued at more than $1 billion. The company invests primarily in retail, office and land developments.